The French retailer Casino is disposing of another 2 billion euros in assets. The reduction is intended to do something about the large debt burden of the company.
Casino was already busy with a divestment round of 2.5 billion euros that should be completed in the first quarter of 2020. The additional sale must be completed a year later.
The group is struggling with a shrinking market share in its own country. The debt mountain ensures that the company has come across the sight of shortsellers, who gamble on payment problems at Casino and a falling stock price. Earlier the dividend for next year was canceled.
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